Julius Baer Says Could Pay Millions Of Dollars To US DOJ To Settle FIFA Corruption Case

Swiss bank Julius Baer could pay millions of dollars to settle the money-laundering and corruption allegations, involving the International Federation of Association Football (FIFA), with the United States Department of Justice, according to a Wednesday statement

ZURICH (UrduPoint News / Sputnik - 16th September, 2020) Swiss bank Julius Baer could pay millions of dollars to settle the money-laundering and corruption allegations, involving the International Federation of Association Football (FIFA), with the United States Department of Justice, according to a Wednesday statement.

In May 2015, the department indicted several high-ranking FIFA officials for alleged corruption spanning over twenty years, with charges including fraud, racketeering, and money laundering. Julius Baer has been among the banks, named in the indictment, that were used to funnel funds, although they were not charged with anything.

"As previously reported, Julius Baer has been cooperating since 2015 with the U.S. Department of Justice (DOJ) in its investigation of alleged money laundering and corruption involving officials and affiliates of FIFA and associated sports media and marketing companies. The Bank is currently in advanced discussions with the DOJ about reaching a resolution in such matter, which may result in the payment of a double-digit million US dollar amount," the bank said in a statement.

Julius Baer noted that it would refrain from commenting on the situation until it is resolved.